Page 24 - Relicense_Resource_Guide_2
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Relicense Resource Guide
Understanding Recommendations
How recommendations are generated
SmartRates will generate two forecasts on a daily basis - one based on the hotel’s cur-
rent conditions and one based on the recommended rates. A number of data points go
into creating forecasts. Here are the
three primary sources:
• Historical data - past demand,
occupancy, rates, and booking
patterns
• Demand and Pace - current pric-
ing, competitor rates, events,
current reservations and remaining
available rooms
• Competitor data - data from iden-
tified local competitors (comp set)
Want to review your comp set? Speak
with your Area Director and/or your
Revenue Manager.
Working with Recommendations
Be sure to check SmartRates daily, if not more often!
When you view the daily recommenda-
tions, there are three options:
• Accept the recommendation
• Keep your current rate
• Override rate (enter a rate amount of
your choice)
Choice University | 24
